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(H1) Remains Vulnerable

BOBL TECHS
  • RES 4: 135.758 1.382 proj of Nov 11 - 30 rally from Dec 2 low
  • RES 3: 135.700 High Dec 11
  • RES 2: 135.520 High Dec 16
  • RES 1: 135.390 Low Dec 10
  • PRICE: 135.260 @ 04:41 GMT Dec 18
  • SUP 1: 135.150 Low Dec 16
  • SUP 2: 135.050 Low Dec 3
  • SUP 3: 134.970 Low Dec 2 and the bear trigger
  • SUP 4: 134.870 Low Nov 11

BOBL futures remain soft following Wednesday's sell-off as contract retraces recent gains achieved between Dec 2 - 11. The sharp pullback resulted in price trading through all key retracement levels. This has exposed firm support at 134.970, Dec 2 low. Clearance of this would strengthen a bearish theme signalling scope for a deeper pullback. On the upside initial resistance is seen at 135.390, Dec 10 low ahead of Wednesday's high of 135.520.

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